AR Transaction Types

AR Transaction Types

Oracle Receivables by seeded provides the following five transaction types:

  1. Invoice
  2. Credit Memo
  3. Projects Credit Memo
  4. Projects Invoice
  5. Intercompany

If need can be setup based on the business scenarios.

Responsibility: Receivables Manager
Navigation: Setup > Transactions > Transaction Types

Create a new Transaction Type:

If a Credit memo needs to be imported, create a new Credit Memo transaction type by just changing the Class as Credit Memo and Sign as Negative.

Importance of each field in the Transaction Type setup are below:

  • Class – indicates the classification of this transaction, valid values are: Bills Receivable, Chargeback, Credit Memo, Debit memo, Deposit, Guarantee, Invoice
  • Creation Sign – indicates the default sign of your transaction, valid values are: Positive, Negative, Any
  • Transaction Status – is the default status of this transaction type, valid values are: Open, Closed, Pending and Void
  • Printing Option – indicates whether transactions using this type can be printed via Invoice Printing, valid values are: Print and Do not Print
  • Credit Memo Type – default transaction type to use when crediting this transaction type, this field is disabled when Class is Bills Receivable or Credit memo
  • Terms – default payment terms for this transaction, this field is disabled when Class is Bills Receivable or Credit memo
  • Open Receivable – indicates whether this transaction’s balance impacts a Customer’s Receivable balance
  • Post to GL – indicates whether the accounting entries of this transaction should post to the General Ledger
  • Natural Application Only
    • Checked – activities against this transaction can only bring its balance towards zero
    • Unchecked – activites against this transaction can increase it’s amount, i.e. a negative balance becomes more negative and a positive balance becomes more positive

  • Exclude from Late Charges Calculation – you can disqualify this transaction type from being included in the generation of late charges
  • Allow Freight – indicates whether or not you can associate freight to this transaction type
  • Default Tax Classification – defaults tax classification code for this transaction. This value is only relevant in release 11.5 or a release 12 instances that are using E-business tax setups defaulted from an upgraded release 11.5 instance
  • Allow Overapplication
    • Checked – activities against this transaction can cause the sign of the balance to change Example: an original positive amount ($150), can change to negative amount (-$50) due to receipt applications
    • Unchecked – activities against transaction cannot exceed its remaining balance



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